India's largest software services firm, Tata Consultancy Services (TCS), has said the tenure of its CEO and MD, N Chandrasekaran, has been extended by five years to October 2019.
Chandrasekaran, who was appointed CEO and MD for five years on October 6, 2009, has been re-appointed for another five years, TCS said in a statement. His re-appointment will be effective October 6, 2014, it added.
TCS has been posting stellar quarterly growth and industry-topping performance, even though its nearest rival, Infosys, had expressed concerns about clients' technology spends.
Under Chandrasekaran's leadership, the company has seen its revenues grow to Rs 85,933 crore from Rs 29,091 crore in Q2FY10.